Driehaus Capital Management LLC Makes New Investment in EQT Co. (NYSE:EQT)

Driehaus Capital Management LLC acquired a new stake in shares of EQT Co. (NYSE:EQT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 8,578 shares of the oil and gas producer's stock, valued at approximately $396,000.

A number of other hedge funds also recently made changes to their positions in the stock. Franklin Resources Inc. increased its position in shares of EQT by 121.1% during the 3rd quarter. Franklin Resources Inc. now owns 316,945 shares of the oil and gas producer's stock valued at $11,600,000 after purchasing an additional 173,596 shares during the last quarter. Principal Financial Group Inc. grew its position in EQT by 39.4% during the third quarter. Principal Financial Group Inc. now owns 700,714 shares of the oil and gas producer's stock valued at $25,674,000 after acquiring an additional 198,227 shares during the last quarter. Baker Tilly Wealth Management LLC raised its stake in shares of EQT by 44.5% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 9,813 shares of the oil and gas producer's stock worth $452,000 after acquiring an additional 3,021 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of EQT by 15.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer's stock worth $1,914,000 after acquiring an additional 5,489 shares during the last quarter. Finally, Czech National Bank boosted its stake in shares of EQT by 6.9% in the 4th quarter. Czech National Bank now owns 129,373 shares of the oil and gas producer's stock valued at $5,965,000 after purchasing an additional 8,363 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

EQT Stock Performance

EQT stock opened at $55.28 on Friday. The stock's 50 day moving average is $50.81 and its 200 day moving average is $48.18. The company has a market capitalization of $33.09 billion, a P/E ratio of 138.20, a PEG ratio of 0.64 and a beta of 0.59. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.20. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. On average, equities research analysts predict that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be issued a $0.1575 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.14%. EQT's payout ratio is currently 110.53%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EQT shares. StockNews.com lowered EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. The Goldman Sachs Group reissued a "reduce" rating on shares of EQT in a research note on Wednesday, February 12th. Truist Financial lifted their target price on shares of EQT from $41.00 to $56.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. Stephens dropped their price target on shares of EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, Morgan Stanley boosted their price objective on shares of EQT from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, EQT has an average rating of "Moderate Buy" and an average target price of $55.94.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.

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